Ripple ETF Filing Rumors Debunked
There have been recent claims that BlackRock registered the iShares XRP Trust in Delaware, but Bloomberg’s senior ETF analysts have confirmed that these claims are false. The matter has been passed to the local authorities since the registration appeared on an official government website.
Spot Crypto ETFs: The Latest Trend
The cryptocurrency community, as well as retail and institutional investors, are eagerly awaiting the potential approval of a BTC exchange-traded fund. Financial giants like BlackRock have shown interest, recently registering the iShares Ethereum Trust in Delaware.
Just a few weeks after this filing, news broke that BlackRock had registered another one, this time for Ripple (XRP). However, several prominent entities, including Bloomberg and its senior ETF analysts, quickly disproved these claims.
Bloomberg’s ETF experts reaffirmed their stance and indicated that the matter has been handed over to the Delaware authorities.
XRP’s Price Movement
The crypto industry has experienced fake news resulting in immediate price fluctuations of certain assets. The fake Ripple ETF application caused XRP to surge from $0.65 to $0.75 before returning to its initial price when the claims were refuted.
Since then, XRP has struggled to post any gains and even dipped below $0.6 amid a market-wide retracement. As of now, the cryptocurrency trades at around $0.63.
Hot Take: False Claims Lead to XRP Price Volatility
The recent false claims of BlackRock registering an iShares XRP Trust in Delaware led to a surge in XRP’s price followed by a quick return to its initial value. This incident sheds light on how fake news can impact cryptocurrency prices and emphasizes the need for accurate information within the industry.
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